According to Chinese trade statistics made available in Tokyo, China ferrous scrap imports totaled 508,000 tonnes in May 2012 down by 19.1%YoY when they increased by 5.9% from a month ago and hitting a level of 500,000 tons for two consecutivene months.

Of the total, Japan provided the largest amount of 286,000 tonnes up by 94.2%YoY, the USA the second largest of 130,000 tonnes down 58.8%, Australia the third largest of 30,000 tonnes down by 53.0%, Hong Kong the fourth largest of 19,000 tonnes down 19.3% and Kazakhstan the fifth largest of 9,000 tonnes up by 40.3%.

In January to May 2012, China ferrous scrap imports totaled 2,338,000 tonnes, up 3.5% from the same period of 2011 when the cumulative imports translated into an annualized 5,610,000 tonnes.

Source - The TEX Report

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